Bairongyun-W (06608) issued an announcement. On the date of this announcement, the company currently has three share plans, namely the 2019 Employee Stock Ownership Plan, the 2021 Employee Stock Ownership Plan, and the 2021 Share Award Plan. To meet the requirements of the new Chapter 17 of the Listing Rules (effective from January 1, 2023), the Board of Directors has resolved to recommend the adoption of the 2024 Share Plan and Restricted Share Unit Plan (the terms of which will comply with all applicable requirements under Chapter 17 of the new Listing Rules) to replace the 2021 Employee Stock Ownership Plan and the 2021 Share Award Plan.
Adopting the 2024 Share Plan and Restricted Share Unit Plan and replacing the 2021 Employee Stock Ownership Plan and 2021 Share Award Plan is subject to shareholders' approval of the 2024 share plan before it can be implemented. Following the entry into force of the 2024 Share Plan and the Restricted Share Unit Plan, the Company shall not hereafter grant any further share options and incentives under the 2021 Employee Shareholding Plan and the 2021 Share Award Plan. Except for any share options granted and not exercised under the 2021 Employee Shareholding Plan and award shares granted and unowned under the 2021 Share Award Plan, will continue to be valid and can be exercised and/or owned in accordance with the relevant plan rules of the 2021 Employee Shareholding Plan and the 2021 Share Award Plan.
Shareholders should note that the 2019 Employee Stock Ownership Plan has stopped granting any share options after the listing date.